Dupage Policy Journal

Dupage Policy Journal

Friday, November 15, 2019

Former state school employee Kmak paid in $240K to teachers' pension fund, could collect $5.86M in retirement


By Local Labs News Service | Jul 1, 2017

Money 06

Former state school employee Judy Kmak, who retired in June 2017, saved $240,446 toward a pension over 35 years working for public schools, Teachers' Retirement System of the State of Illinois records show.

Over 30 years of retirement, Kmak would collect as much as $5.86 million, according to a projection by Local Government Information Services (LGIS), which publishes DuPage Policy Journal.

The projection assumes Kmak received $123,276 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 2 years of retirement, Kmak will have already received $250,250 in retirement benefits, or more than the sum total of the retiree's contributions to the teachers' pension fund.

Want to get notified whenever we write about Downers Grove Grade School District 58 ?

Sign-up Next time we write about Downers Grove Grade School District 58, we'll email you a link to the story. You may edit your settings or unsubscribe at any time.

Organizations in this Story

Downers Grove Grade School District 58

More News